BNP Paribas Financial Markets Has $9.09 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

BNP Paribas Financial Markets lifted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 14.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 180,957 shares of the technology company’s stock after buying an additional 23,398 shares during the quarter. BNP Paribas Financial Markets owned about 0.06% of Pure Storage worth $9,091,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after buying an additional 161 shares in the last quarter. Nvwm LLC boosted its stake in Pure Storage by 23.3% during the third quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock worth $52,000 after acquiring an additional 194 shares in the last quarter. Harbour Investments Inc. grew its holdings in Pure Storage by 3.0% in the second quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock worth $444,000 after purchasing an additional 202 shares during the period. Larson Financial Group LLC increased its stake in Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after purchasing an additional 219 shares during the period. Institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PSTG shares. Lake Street Capital decreased their target price on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Needham & Company LLC lowered their target price on Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. UBS Group reduced their price target on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Piper Sandler lowered their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Northland Securities reiterated a “market perform” rating and set a $59.00 price objective (down from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.95.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the transaction, the insider now owns 300,000 shares of the company’s stock, valued at $17,196,000. This represents a 25.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. This trade represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 354,542 shares of company stock valued at $18,599,030 in the last three months. Company insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

PSTG opened at $53.05 on Tuesday. Pure Storage, Inc. has a fifty-two week low of $31.79 and a fifty-two week high of $70.41. The firm has a 50-day moving average of $52.12 and a 200 day moving average of $56.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The firm has a market cap of $17.38 billion, a P/E ratio of 132.63, a PEG ratio of 7.19 and a beta of 1.10.

Pure Storage Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.